Only 27% of businesses have adopted AI despite potential benefits and investment plans

SINGAPORE: A recent report from HubSpot has revealed that only 27% of organisations in Singapore have implemented artificial intelligence (AI) to support their employees’ work.

Despite this low adoption rate, the report has underlined the transformative potential of AI in enhancing workplace productivity and efficiency.

Business leaders who actively monitor and measure the impact of AI reported an 88% improvement in productivity and a 76% increase in efficiency among employees.

From a broader business perspective, organisations have reaped substantial benefits, including increased revenue and improved customer satisfaction (both cited by 75% of respondents), better lead generation (60%), and reduced overall costs (46%).

However, the widespread implementation of AI faces persistent challenges. Nearly half (49%) of the business leaders surveyed indicated a lack of success metrics as a key barrier, while 48% identified a shortage of relevant talent and skill sets.

Additionally, 45% expressed concerns about inadequate visibility into how AI is utilised within their organisations.

Despite these obstacles, the appetite for AI investment remains strong. An overwhelming 97% of respondents plan to allocate an average of $32,000 towards AI tools over the next year.

Furthermore, 90% anticipate hiring additional roles to bolster their organisation’s AI capabilities.

The findings highlight both the untapped potential and the hurdles of AI adoption in Singapore as businesses balance the promise of advanced technologies with the need for robust infrastructure and skilled personnel.